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The spot rate between Canada and the U.S. Is Can$1.2386/5, while the one-year forward rate is Can$1.2385/$. The risk-free rate in Canada is 285 percent

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The spot rate between Canada and the U.S. Is Can$1.2386/5, while the one-year forward rate is Can$1.2385/$. The risk-free rate in Canada is 285 percent and risk-free rate in the United States is 2.56 percent. How much in profit can you earn on $7,000 utilizing covered interest arbitrage? Multiple Choice $20.88 $16.71 $2218 S18-27 $19.72

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